For example, the United States Securities and Exchange Commission (the 'SEC') generally permits oil and gas issuers, in their filings with the SEC, to disclose only proved reserves (as defined in SEC rules), but permits the optional disclosure of 'probable reserves' and 'possible reserves
' (each as defined in SEC rules).
In May, Shell struck a deal with Cluff to acquire 70% of the Pensacola gas prospect, with possible reserves
of up to 100m barrels.
Talking about possibilities of 'big' oil discovery near Karachi shores, Prime Minister Khan said: 'The country will become self-reliant in fuel oil if possible reserves
near Karachi are successfully tapped.'
The BTE-2 discovery's initial quantities estimated at about 0.5 trillion cubic feet of gas with more possible reserves
. Egypt floated its local currency in a move that reduced its value by almost 50% registering about LE 14 against the dollar (November 2016).
Thus, the Nanushuk discovery's proven, probable, and possible reserves
are larger than the Alpine, Kuparuk, and Prudhoe fields, respectively, although the oil is in multiple reservoirs, not just one, as was the case with the original Kuparuk and Alpine discoveries.
It has been confirmed as one of the biggest on the UK Continental Shelf in recent history, with estimates putting possible reserves
at half a billion barrels.
He added that the new field has initial estimated reserves of 500bn cubic feet, with more possible reserves
, placing the new field among the largest natural gas discoveries in the western desert in past years.
The sea's possible reserves
(defined as 50% probable) could yield another 233bn barrels of oil.
The Trion 1 field is said to hold a combined 485 million barrels of proven, probable, and possible reserves
According to a business plan developed by the Tajik company, they will organise a well-functioning enterprise established on the basis of explored possible reserves
of the Konchoch deposit.
Total possible reserves
attributable to the acquisition acreage are estimated to be 4.8 Tcfe, of which 100% is natural gas.